Markets Tumble As Tensions Escalate Between North And South Korea
Escalating tensions between North and South Korea sent the markets tumbling to a lower open with the Dow plummeting 208 points to 9858. Nasdaq plunged 51 points to 2161.
On the upside
Neurocrine Biosciences (Nasdaq: NBIX) reported positive results from a Phase II Daisy PETAL study using elagolix in endometriosis patients.
Toshiba and Babcock & Wilcox Investment will invest $200 million in USEC (NYSE: USU).
On the downside
Citigroup (NYSE: C) introduced a service to help clients navigate new money market rules established by the Securities and Exchange Commission but the stock price dropped.
Dell (Nasdaq: DELL) announced the early June release in the UK of its Streak Tablet featuring built-in Wi-Fi, Bluetooth and available 3G connectivity with a late summer release in the US but the stock price fell.
The Food and Drug Administration approved Teva Pharmaceutical Industries' (Nasdaq: TEVA) generic version of the antiviral Valtrex but the stock price fell.
Wabash National (NYSE: WNC) priced its offering of more than 24 million shares of common stock at $6.50 per share.
In the broad market, declining issues outpaced advancers by a margin of more than 11 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 14 points to 626.
